ETF Evaluator:
UBS ETRACS Wells Fargo® Busn Dev Co ETN (BDCZ)
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(as of Jul 27)
Best Performing in Financial Over the Last Year
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ETF Details
UBS ETRACS Wells Fargo® Busn Dev Co ETN Overview
UBS ETRACS Wells Fargo® Busn Dev Co ETN (BDCZ) is a passively managed Sector Equity Financial exchange-traded fund (ETF). UBS launched the ETF in 2015.
The investment seeks to provide exposure to the performance of the Wells Fargo® Business Development Company Index.
The ETRACS Wells Fargo® Business Development Company Index ETN Series B due April 26, 2041 are senior unsecured debt securities issued by UBS AG. The index is intended to measure the performance of all business development companies listed on the NYSE or NASDAQ that satisfy specified market capitalization and other eligibility requirements. It refers to the business development companies included in the Wells Fargo® Business Development Company Index as the “index constituents.” The index is a proprietary index of Wells Fargo Securities, LLC.
About UBS ETRACS Wells Fargo® Busn Dev Co ETN (BDCZ)
There are 1 members of the management team with an average tenure of 10.73 years: No Manager (2015). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: MVIS US Business Dvlpmnt Company NR USD index with a weighting of 100%. UBS ETRACS Wells Fargo® Busn Dev Co ETN has securities in its portfolio. The top 10 holdings constitute 0.0% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is considered to have an ESG focus with its investment selection and management.
UBS ETRACS Wells Fargo® Busn Dev Co ETN is part of the Equity global asset class and is within the Sector Equity ETF group. UBS ETRACS Wells Fargo® Busn Dev Co ETN has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). UBS ETRACS Wells Fargo® Busn Dev Co ETN has 0.0% of the portfolio in cash.
Assets Under Management
The fund has $11 million in total assets, which is below the $2 billion average for the Financial category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
BDCZ Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The UBS ETRACS Wells Fargo® Busn Dev Co ETN expense ratio is high compared to funds in the Financial category. UBS ETRACS Wells Fargo® Busn Dev Co ETN has an expense ratio of 0.85%, which is 44% lower than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. UBS ETRACS Wells Fargo® Busn Dev Co ETN has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 29% for the Financial category.
Recently, in the month of June 2026, UBS ETRACS Wells Fargo® Busn Dev Co ETN returned 0.5%, which earned it a grade of D, as the Financial category had an average return of 2.7%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
UBS ETRACS Wells Fargo® Busn Dev Co ETN has a trailing yield of 11.02%, which is above the 4.29% category average.
The fund normally distributes its income quarterly.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
UBS ETRACS Wells Fargo® Busn Dev Co ETN Grades
Year to date, the ETF has returned -5.8%, 6.1 percentage points worse than the category, which translates into a grade of D. The fund has returned -9.6% over the past year (grade of D), 4.7% over the past three years (grade of F) and 4.1% per year over the past five years (grade of F) and 6.2% per year over the past 10 years (grade of F).
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BDCZ Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| BDCZ Return (NAV) | 0.5% | 3.2% | -9.6% | 4.7% | 4.1% | 6.2% |
| BDCZ Return (Price) | -4.5% | -1.9% | -13.5% | 2.9% | 3.1% | 5.8% |
| NAV +/- Price Return | 4.920% | 5.068% | 3.869% | 1.749% | 0.999% | 0.396% |
| Financial Avg | 2.7% | 8.5% | 5.6% | 16.7% | 7.6% | 10.8% |
| BDCZ Grade (NAV) | D | D | D | F | F | F |
| +/- Category (NAV) | -2.2% | -5.3% | -15.2% | -12.0% | -3.5% | -4.7% |
| BDCZ Tax-Cost Ratio | na | na | 4.0% | 3.9% | 3.7% | 3.7% |
BDCZ Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| BDCZ Return (NAV) | -5.8% | -3.9% | 12.2% | 25.3% | -9.5% | 34.7% | -11.3% | 26.1% | -7.0% | -0.9% | 23.1% |
| BDCZ Return (Price) | -10.5% | -3.8% | 12.2% | 25.3% | -9.1% | 34.0% | -11.3% | 26.1% | -7.8% | 0.4% | 21.3% |
| NAV +/- Price Ret | 0.799% | -0.031% | -0.003% | -0.001% | -0.043% | -0.021% | -0.007% | 0.0% | 11.9% | -140.4% | -7.8% |
| Financial Avg | 0.3% | 11.6% | 23.4% | 13.6% | -13.3% | 32.1% | -1.0% | 28.6% | -12.8% | 14.2% | 22.3% |
| BDCZ Grade (NAV) | D | F | F | B | B | C | F | D | A | F | C |
| +/- Category | -6.1% | -15.5% | -11.2% | 11.6% | 3.8% | 2.6% | -10.3% | -2.5% | 5.8% | -15.1% | 0.8% |
| Risk Measures | |
| Beta: | 0.37 |
| R-Squared: | 13% |
| Standard Deviation: | 12.9% |
| Category Risk Index: | 0.76 |
| Category Risk Rating: | Low |
| Total Risk Index: | 1.06 |
| Total Risk Rating: | Average |
| Portfolio Characteristics | |
| Yield: | 11.0% |
| Total Assets: | $ 11 Mil |
| Share Class Assets: | $ 11 Mil |
| Turnover: | na |
| Expense Ratio: | 0.85% |
| Index Fund: | Yes |
| Index Tracked: | MVIS US Business Dvlpmnt Company NR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | Yes |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 10.7 years | |||
| Average Tenure: 10.7 years | |||
| Managers (Year): Manager No (2015) | |||
Portfolio Composition (as of )
| # of Holdings: | |
| % in Top 10 Holdings: | 0.0% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.0% |
Purchase Information
| Legal Structure: | Uncollateralized Debt Instrument |
| Fund Family: | UBS |
| Phone Number: | 877-387-2275 |
| Website: | www.ubs.com/investor-relations |
| Inception Date: | October 9, 2015 |
Expenses and Fees
| Expense Ratio (%): | 0.85% (Rating: High) |
| Category Average Expense Ratio (%): | 1.52% |
